ROCKVILLE, Md.,
Dec. 22, 2010 /PRNewswire-FirstCall/
-- Novavax, Inc. (Nasdaq: NVAX) and scientists at the University of Massachusetts Medical School, led by
Dr. Trudy Morrison, published in the
January 2011 issue of The Journal of
Virology, a report indicating that a novel virus-like particle
(VLP) vaccine candidate against respiratory syncytial virus (RSV)
protects mice from a live virus challenge. This vaccine
candidate has been created with technology that Novavax has
licensed exclusively from the University of
Massachusetts Medical School.

The publication describes the production and testing of
a novel RSV VLP vaccine candidate. Immunization with this
genetically engineered RSV VLP vaccine stimulated immune response
against key vaccine targets, the RSV G attachment and RSV F fusion
proteins. The antibody responses achieved with this vaccine
candidate were equal to or better than levels resulting from
infection with live RSV. This RSV G+F VLP vaccine stimulated both
anti-G and anti-F protein serum antibodies typical of a more
Th1-biased response characteristic of natural infection with RSV.
When challenged with live RSV, animals immunized with RSV
VLPs were completely protected from replication of the virus in the
lungs and showed no signs of enhanced respiratory disease.

"This study indicates that immunization with a VLP
vaccine results in functional and protective immune responses
against RSV. Induction of such functional, protective
immunity has been a key challenge in RSV vaccine development.
RSV is the leading global cause of infant and childhood
respiratory disease, and these encouraging preclinical safety and
efficacy data suggest that an RSV VLP vaccine is a promising
approach and should be developed further," said Greg Glenn, M.D., Novavax's Chief Scientific
Officer.

About Respiratory Syncytial Virus

RSV is the most important viral cause of lower
respiratory tract infection in infants and children worldwide. The
global disease burden is estimated at 64 million cases and 160,000
deaths every year. RSV is the most common cause of
bronchiolitis (inflammation of the small airways in the lung) and
pneumonia in children under 1 year of age in the United States. Each year, 75,000 to
125,000 children in this age group are hospitalized due to RSV
infection. Almost all children will have had an RSV infection by
their second birthday. When infants and children are exposed to RSV
for the first time, 25% to 40% of them have signs or symptoms of
bronchiolitis or pneumonia, and 0.5% to 2% will require
hospitalization. Most children hospitalized for RSV infection are
under 6 months of age. Additionally, wheezing illnesses
caused by RSV, particularly those severe enough to lead to
hospitalization, are associated with an increased risk of asthma at
school age.

It is also estimated that more than 8.5 million adults,
including the elderly over age 65 years, are infected and 900,000
patients are hospitalized annually due to RSV infection in
the United States and major
European countries. In the United States alone there are
177,500 hospitalizations among high risk adults resulting in annual
medical costs exceeding $1 billion.
There is currently no approved vaccine for the prevention of
RSV; the market potential for such a vaccine would be well in
excess of $1 billion annually.

About the University of
Massachusetts Medical School

The University of Massachusetts
Medical School is one of the fastest growing academic health
centers in the country and has built a reputation as a world-class
research institution, consistently producing noteworthy advances in
clinical and basic research. The Medical School attracts more than
$255 million in extramural research
funding annually. Research dollars enable UMMS scientists to
explore human disease from the molecular level to large-scale
clinical trials. Basic and clinical research has led to new
approaches for diagnosis, treatment and prevention of disease.
Visit www.umassmed.edu for additional
information.

About Novavax

Novavax, Inc. is a clinical-stage biopharmaceutical
company creating novel vaccines to address a broad range of
infectious diseases worldwide, including H1N1, using advanced
proprietary virus-like-particle (VLP) technology. The company
produces potent VLP-based recombinant vaccines utilizing new and
efficient manufacturing approaches. Novavax is committed to using
its VLP technology to create country-specific vaccine solutions.
The company has formed a joint venture with Cadila Pharmaceuticals,
named CPL Biologicals, to develop and manufacture vaccines,
biological therapeutics and diagnostics in India. Additional information about Novavax is
available on the company's website: www.novavax.com.

Cautionary Note Regarding Forward-Looking
Statements

Statements herein relating to the results of
preclinical tests are forward-looking statements. Novavax cautions
that these forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which change over time. We
caution readers not to place significant reliance on
forward-looking statements contained in this release. Factors that
may cause actual results to differ materially from the results
discussed in forward-looking statements are contained in Novavax's
filings with the U.S. Securities and Exchange Commission, which are
available at www.sec.gov, including the factors
discussed under the caption "Risk Factors" in our Annual Report on
Form 10-K for the fiscal year ended December
31, 2009, as updated by our Quarterly Reports on Form 10-Q
for the quarters ended March 31,
2010, June 30, 2010, and
September 30, 2010. These
forward-looking statements speak only as of the date of this press
release and Novavax assumes no duty to update such
statements.

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